Trevi Therapeutics (NASDAQ:TRVI) Trading Down 5.1% – Here’s What Happened

Trevi Therapeutics, Inc. (NASDAQ:TRVI)’s share price fell 5.1% during mid-day trading on Monday . The company traded as low as $18.03 and last traded at $18.0940. Approximately 614,317 shares traded hands during trading, a decline of 64% from the average daily volume of 1,723,184 shares. The stock had previously closed at $19.07.

Wall Street Analysts Forecast Growth

TRVI has been the subject of several analyst reports. B. Riley Financial raised their target price on shares of Trevi Therapeutics from $21.00 to $31.00 and gave the company a “buy” rating in a research note on Monday. Stifel Nicolaus set a $30.00 price objective on shares of Trevi Therapeutics in a research report on Friday, May 8th. Morgan Stanley restated an “overweight” rating and set a $20.00 price objective on shares of Trevi Therapeutics in a research note on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Trevi Therapeutics in a report on Friday. Finally, D. Boral Capital reiterated a “buy” rating and issued a $19.00 target price on shares of Trevi Therapeutics in a research note on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Trevi Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $23.80.

Trevi Therapeutics Stock Performance

The firm has a fifty day simple moving average of $15.85 and a 200-day simple moving average of $13.33. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of -54.78 and a beta of 1.00.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). Analysts expect that Trevi Therapeutics, Inc. will post -0.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Alliancebernstein L.P. lifted its holdings in Trevi Therapeutics by 19,064.5% during the 2nd quarter. Alliancebernstein L.P. now owns 4,281,355 shares of the company’s stock worth $23,419,000 after purchasing an additional 4,259,015 shares during the last quarter. Rubric Capital Management LP increased its position in Trevi Therapeutics by 88.0% during the 2nd quarter. Rubric Capital Management LP now owns 8,531,860 shares of the company’s stock worth $46,669,000 after buying an additional 3,993,325 shares during the period. Viking Global Investors LP lifted its holdings in shares of Trevi Therapeutics by 232.4% during the third quarter. Viking Global Investors LP now owns 5,128,875 shares of the company’s stock worth $46,929,000 after buying an additional 3,585,875 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Trevi Therapeutics by 1,792.0% during the third quarter. Wellington Management Group LLP now owns 3,253,888 shares of the company’s stock worth $29,773,000 after buying an additional 3,081,906 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Trevi Therapeutics by 95.4% in the third quarter. Marshall Wace LLP now owns 4,841,751 shares of the company’s stock valued at $44,302,000 after acquiring an additional 2,363,835 shares during the period. 95.76% of the stock is owned by institutional investors.

Trevi Therapeutics Company Profile

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel non-opioid therapies for the management of chronic and acute pain. The company leverages proprietary drug delivery platforms and targeted molecular approaches to address high unmet needs in cancer-related pain, chemotherapy-induced neuropathy and other severe pain conditions.

Its lead product candidate is a proprietary formulation of tetrodotoxin (TTX), a sodium-channel blocking agent being evaluated in early-stage clinical trials for moderate-to-severe pain associated with advanced cancer and peripheral neuropathy.